Lord Abbett & CO. LLC Increases Stock Holdings in AAON, Inc. (NASDAQ:AAON)

Lord Abbett & CO. LLC increased its holdings in shares of AAON, Inc. (NASDAQ:AAON) by 39.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 288,581 shares of the construction company’s stock after buying an additional 81,111 shares during the quarter. Lord Abbett & CO. LLC owned about 0.36% of AAON worth $31,121,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Amalgamated Bank increased its stake in shares of AAON by 65.2% during the 2nd quarter. Amalgamated Bank now owns 35,367 shares of the construction company’s stock valued at $3,085,000 after acquiring an additional 13,964 shares during the last quarter. Geneva Capital Management LLC grew its holdings in AAON by 1.5% in the third quarter. Geneva Capital Management LLC now owns 1,698,207 shares of the construction company’s stock valued at $183,135,000 after purchasing an additional 24,384 shares during the period. Raymond James & Associates increased its position in AAON by 3.4% during the third quarter. Raymond James & Associates now owns 142,930 shares of the construction company’s stock worth $15,414,000 after purchasing an additional 4,709 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in AAON by 122.3% during the third quarter. Oppenheimer Asset Management Inc. now owns 16,476 shares of the construction company’s stock worth $1,777,000 after purchasing an additional 9,063 shares during the period. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of AAON by 69.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 103,881 shares of the construction company’s stock valued at $9,063,000 after purchasing an additional 42,493 shares during the last quarter. 70.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at AAON

In related news, CEO Gary D. Fields sold 35,000 shares of AAON stock in a transaction on Friday, November 15th. The shares were sold at an average price of $132.03, for a total value of $4,621,050.00. Following the completion of the sale, the chief executive officer now owns 64,295 shares in the company, valued at approximately $8,488,868.85. The trade was a 35.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Stephen E. Wakefield sold 5,750 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $139.86, for a total transaction of $804,195.00. Following the transaction, the vice president now owns 9,920 shares in the company, valued at $1,387,411.20. This trade represents a 36.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 51,967 shares of company stock valued at $6,961,357 in the last three months. Corporate insiders own 18.55% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. DA Davidson upped their price objective on AAON from $102.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Robert W. Baird raised their price objective on AAON from $130.00 to $138.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Sidoti cut AAON from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $102.00 to $111.00 in a report on Tuesday, October 22nd. StockNews.com upgraded shares of AAON from a “sell” rating to a “hold” rating in a report on Friday, September 20th. Finally, Baird R W upgraded shares of AAON from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 28th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $133.00.

AAON Stock Up 0.0 %

NASDAQ AAON opened at $131.32 on Monday. The company has a quick ratio of 1.79, a current ratio of 3.06 and a debt-to-equity ratio of 0.07. AAON, Inc. has a fifty-two week low of $67.99 and a fifty-two week high of $144.07. The business has a 50 day moving average price of $123.82 and a two-hundred day moving average price of $101.10. The stock has a market cap of $10.67 billion, a PE ratio of 57.85 and a beta of 0.83.

AAON (NASDAQ:AAON) last released its quarterly earnings results on Thursday, November 7th. The construction company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.06. The firm had revenue of $327.25 million for the quarter, compared to the consensus estimate of $315.80 million. AAON had a net margin of 15.78% and a return on equity of 24.98%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 EPS. As a group, sell-side analysts predict that AAON, Inc. will post 2.26 EPS for the current fiscal year.

AAON Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.32 annualized dividend and a yield of 0.24%. AAON’s dividend payout ratio is presently 14.10%.

About AAON

AAON, Inc, together with its subsidiaries, engages in engineering, manufacturing, marketing, and selling air conditioning and heating equipment in the United States and Canada. The company operates through three segments: AAON Oklahoma, AAON Coil Products, and BASX. It offers rooftop units, data center cooling solutions, cleanroom systems, chillers, packaged outdoor mechanical rooms, air handling units, makeup air units, energy recovery units, condensing units, geothermal/water-source heat pumps, coils, and controls.